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Two of the larger food service companies will combine their power into one.
As with many of the food service giants, some are unionized and others are not.
I see many of the PFG trucks on the highway all the time. Reinhart, I believe, may service the mid-west, but I have seen their trucks too.
Performance Food to Buy Rival Supplier Reinhart for $2 Billion
https://www.ttnews.com/articles/perf...hart-2-billion
As with many of the food service giants, some are unionized and others are not.
I see many of the PFG trucks on the highway all the time. Reinhart, I believe, may service the mid-west, but I have seen their trucks too.
Performance Food to Buy Rival Supplier Reinhart for $2 Billion
Performance Food Group Co. agreed to buy Reinhart Foodservice for $2 billion in a combination of U.S. food suppliers.
Performance, a distributor for retailers and resultants, will buy Reinhart from its owner, Reyes Holdings LLC, in an all-cash deal, the company said in a statement July 1. Together with Reinhart, Performance’s sales will rise to about $30 billion.
The deal shows how food-service companies are under pressure to consolidate as costs climb. Truckers’ demands for higher wages, for example, have squeezed already low profit margins. By combining with Reinhart, Performance aims to save $50 million in costs annually within three years.
Performance, a distributor for retailers and resultants, will buy Reinhart from its owner, Reyes Holdings LLC, in an all-cash deal, the company said in a statement July 1. Together with Reinhart, Performance’s sales will rise to about $30 billion.
The deal shows how food-service companies are under pressure to consolidate as costs climb. Truckers’ demands for higher wages, for example, have squeezed already low profit margins. By combining with Reinhart, Performance aims to save $50 million in costs annually within three years.
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